The Bank of New York Company, Inc. has appointed James Vallone as executive vice president of the Company’s main subsidiary, The Bank of New York, and chief auditor of both the Company and the Bank.
Vallone succeeds Kevin Piccoli, executive vice president, and will report to the audit committee of the Company’s Board of Directors and in an administrative capacity to Thomas A. Renyi, chairman and chief executive officer. Following the completion of the recently announced merger between The Bank of New York and Mellon Financial, Vallone will serve as the chief auditor of the combined company.
Vallone joins the Bank from Merrill Lynch & Co., Inc. and has over 25 years of experience in the financial services industry. Vallone has held several strategic positions at Merrill, most recently as managing director and global head of control risk and business process for its global markets and investment banking business. In addition, Vallone previously served as global head of business continuity management, global head of internal audit, executive assistant to the chairman and CEO, and held a variety of financial and managerial positions in Merrill’s global markets and investment banking business and in its corporate office. Prior to joining Merrill Lynch, Vallone spent four years with Deloitte & Touche in the financial services practice. Vallone holds a B.S. from Syracuse University, an M.B.A. from Columbia University, and is a CPA.
“Jim’s extensive experience and leadership in the areas of audit, finance and risk management will be a critical component in our efforts to deepen and broaden the scope of the Bank’s audit function, building on Kevin’s valuable contributions,” says Thomas A. Renyi, the chairman and chief executive officer of The Bank of New York Company. “Kevin has significantly advanced our audit capabilities in recent years, and we look forward to his continued leadership and contributions in his new strategic role.”